Third Point LLC Purchases New Shares in Talen Energy Corporation $TLN

Key Points

• Third Point LLC acquired 585,000 shares of Talen Energy Corporation valued at approximately $116.8 million, making it the firm's 25th largest position with around 1.8% of its holdings.
• Several hedge funds, including PointState Capital LP and Ameriprise Financial Inc., significantly increased their stakes in Talen Energy during the first quarter, indicating growing institutional interest.
• Analysts have a consensus rating of "Buy" on Talen Energy, with a reported target price increase from Barclays to $418.00 and Melius Research initiating coverage with a $427.00 target.

Third Point LLC purchased a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 585,000 shares of the utilities provider's stock, valued at approximately $116,807,000. Talen Energy comprises approximately 1.8% of Third Point LLC's holdings, making the stock its 25th biggest position. Third Point LLC owned about 1.29% of Talen Energy as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TLN. PointState Capital LP bought a new stake in shares of Talen Energy in the 1st quarter worth about $75,148,000. Ameriprise Financial Inc. raised its position in Talen Energy by 6,621.1% in the 1st quarter. Ameriprise Financial Inc. now owns 303,661 shares of the utilities provider's stock worth $60,638,000 after purchasing an additional 299,143 shares during the period. Nishkama Capital LLC bought a new stake in Talen Energy in the first quarter worth about $32,243,000. BW Gestao de Investimentos Ltda. boosted its position in shares of Talen Energy by 393.8% during the first quarter. BW Gestao de Investimentos Ltda. now owns 161,758 shares of the utilities provider's stock valued at $32,298,000 after buying an additional 129,002 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Talen Energy by 1,210.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 131,082 shares of the utilities provider's stock valued at $27,192,000 after buying an additional 121,082 shares during the last quarter. Institutional investors own 0.38% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TLN. Susquehanna reissued an "overweight" rating on shares of Talen Energy in a research note on Thursday, June 12th. Wall Street Zen upgraded Talen Energy from a "sell" rating to a "hold" rating in a research note on Monday, August 11th. Barclays boosted their target price on shares of Talen Energy from $353.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Melius Research initiated coverage on shares of Talen Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $427.00 price target on the stock. Finally, Morgan Stanley upped their target price on shares of Talen Energy from $300.00 to $330.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Fifteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $326.08.

Insider Buying and Selling at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the company's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the completion of the sale, the insider directly owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This represents a 3.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders sold 388,530 shares of company stock worth $114,090,933. Corporate insiders own 0.18% of the company's stock.

Talen Energy Price Performance

NASDAQ TLN opened at $389.19 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.34 and a current ratio of 1.84. The firm's 50 day moving average price is $342.25 and its 200-day moving average price is $266.20. Talen Energy Corporation has a 52-week low of $137.55 and a 52-week high of $394.25. The company has a market cap of $17.78 billion, a PE ratio of 110.25, a P/E/G ratio of 2.68 and a beta of 1.89.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.50 EPS for the quarter, topping analysts' consensus estimates of ($1.13) by $2.63. The company had revenue of $630.00 million during the quarter, compared to the consensus estimate of $481.48 million. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. Sell-side analysts forecast that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.